São Paulo, May 05, 2025 – GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4) (“Company” or “GOL”), one of the leading airlines in Brazil, announces today the update of its financial projections in support of the Company’s Chapter 11 exit debt financing process, as detailed in the presentation attached hereto as Annex I. The Company advises that the updated financial projections serves as an update to is GOL 5-Year Plan projections published on January 15, 2025.  The enclosed updated financial projections set forth in the attached presentation incorporate the following updated actual and projected financial performances:

1. Actual Results for 2024: Include the actual financial results achieved during the 2024 fiscal year which serve as the basis for updating future years’ projections.
2. Updated Financial Guidance for 2025: Revision of estimates for the 2025 fiscal year, with Total Net Revenue forecasted to range between R$22.1 billion and R$22.7 billion and EBITDA between R$5.7 billion and R$5.9 billion¹.
3. Revenue Revisions through Q1 2026: Adjustments were made to revenue projections based on current booking trends and signed contracts, reflecting expected stronger demand through the first quarter of 2026.
4. Udates to the 2026 Bonds Creditors Agreement: Incorporation of the terms of the agreement reached with an ad hoc group of 2026 bondholders (the “Ad Hoc Group”), pursuant to which the members of the Ad Hoc Group have made commitments to purchase $125 million of the Company’s $1.9 billion of exit financing notes (“Exit Debt Financing”) in connection with a settlement of claims, as disclosed in the material fact dated May 2, 2025.
5. Exit Debt Financing Updates: Revised upward the expected coupon payable on the Exit Debt Financing and moved out the Company’s exit from the Chapter 11 process to early June 2025 from late April 2025.
6. Equity Financing Timeline and Clawback Clauses: Updated timing of projected receipt of up to $330 million of equity investments in GOL by strategic partners.  Such investments are now assumed to occur within the first 180 days post emergence from the Chapter 11 case.  The projections include an assumption that upon receipt of the full $330 million, up to $180 million will be used to prepay a portion of the Exit Debt Financing.

The financial projections detailed in the presentation attached hereto as Annex I are estimates based on the information currently available and the underlying assumptions set forth above are more fully described in the presentation. It should be noted that these projections do not constitute a performance promise and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the projections.

The Company also announces preliminary and unaudited financial information for the quarter ended March 2025. With the objective of assisting investors and analysts in understanding how GOL is approaching its short-term planning, the Company is sharing these metrics.

GOL expects an EBITDA ²,³ margin for the quarter of ~27%, in line with the quarter ended in March 2024.

Passenger unit revenue (PRASK) for the first quarter is expected to be up approximately 5% year over year. For the quarter ended in March, GOL expects unit revenue (RASK) to increase approximately 6%).

1-As disclosed in the material fact dated March 28, 2025.
2-For comparison purposes, 1Q24 results were adjusted considering results of
 Sale Lease Back as non-recurring, unaudited.
3-Excluding non-recurring expenses of approximately R$370 million.
4-Cash, cash equivalents and accounts receivable.

Finally, GOL reiterates that, under the terms of the Plan, it will significantly reduce its indebtedness by converting into equity or extinguishing up to approximately US$1.7 billion of its pre-Chapter 11 funded debt and up to approximately US$850 million of other obligations. As such, considering that the conversion will be carried out based on the economic value of GOL’s shares prior to the conversion, in accordance with applicable law, a substantial dilution of GOL’s currently outstanding shares is expected (subject to shareholders’ preemptive rights as provided under Brazilian law).